Ownership costs are the costs to purchase and operate a vehicle over a period of time. Understanding these costs may enable you to save money and help you make a wiser decision when choosing your next new car.

Regardless of the “value” claims that you may read in car reviews or hear in advertisements, the economic value of a car is based on how much it will cost to own and operate compared to its purchase price. In a sense, purchase price is “what you pay” and the ownership costs are “what you get.”

Ownership costs can differ greatly. The cost to own and operate two different vehicles with equal purchase prices can differ by thousands. Of course when evaluating ownership cost for used cars and trucks, a vehicle's condition and mileage will greatly impact ownership costs, therefore it's important to compare similar vehicles in similar condition for an accurate picture.

2008 Toyota Land Cruiser Exterior, Interior, Misc Photos

2008 Toyota Land Cruiser 360 Virtual Tour

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2008 Toyota Land Cruiser Paint Color Options

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2008 Toyota Land Cruiser Performance

Engine: 5.7L V-8 DOHC with variable valve timing and four valves per cylinder

2008 Toyota Land Cruiser Warranty

Basic Warranty: The basic warranty covers everything except items that are subject to wear and tear or replacement in the ordinary course of vehicle ownership, such as oil and air filters, wiper blades and brake pads. Tires and batteries are often excluded, but usually have their own warranty provided by the manufacturers of those items. Emissions equipment is required by Federal law to be covered for five years or 50,000 miles.

Drive Train Warranty: In some cases the drive train warranty continues after the basic warranty has expired. This part of the warranty covers most of the parts that make the vehicle move, including the engine, transmission, drive axles and driveshaft. Like the basic warranty, consumable parts such as hoses and belts are not covered. However, most of the internal parts of the engine, such as the pistons and bearings, which are also subject to wear and tear, are covered by the drive train warranty.

Roadside Assistance: Many manufacturers provide a service that will rescue you if your car leaves you stranded, even if it's your fault. Lock yourself our of your car? Run out of gas? Got a flat tire? A call to the manufacturer's toll-free number will result in somebody showing up who can help you out. There is a huge variance in these programs so check ahead of time to see what is covered and what you will have to pay for.

Rust or Corrosion Warranty: Rust or Corrosion Warranty: This warranty covers the vehicle's sheet metal, and protects you from rust and corrosion that are severe enough to cause a hole - surface rust is not covered. However, if you keep your car washed and waxed rust shouldn't be a problem.

TOYOTA IS RECALLING CERTAIN MODEL YEAR 2008 THROUGH 2011 FJ CRUISER, LAND CRUISER, TACOMA, SEQUOIA AND TUNDRA VEHICLES FOR FAILING TO COMPLY WITH THE REQUIREMENTS OF FEDERAL MOTOR VEHICLE SAFETY STANDARD NO. 138, "TIRE PRESSURE MONITORING SYSTEM (TPMS)." WHEN FACTORY-INSTALLED WHEELS AND TIRES WERE REPLACED WITH TOYOTA AUTHORIZED ACCESSORY WHEELS AND LT TIRES PRIOR TO FIRST SALE, THE TIRE PRESSURE MONITORING SYSTEMS WERE NOT RE-CALIBRATED CORRECTLY AND THEREFORE DO NOT START ILLUMINATING THE LOW TIRE PRESSURE WARNING TELLTALE AT THE REQUIRED MINIMUM ACTIVATION PRESSURE.

Consequences:

FAILURE TO WARN OF TIRE DEFLATIONS IS A NON-COMPLIANCE WITH FMVSS 138 AND COULD LEAD TO TIRE FAILURE INCREASING THE RISK OF A CRASH.

Remedy:

FOR THE LAND CRUISER, SEQUOIA, TACOMA AND TUNDRA VEHICLES, THE DEALER WILL RE-CALIBRATE THE TIRE PRESSURE MONITORING SYSTEM ON AFFECTED VEHICLES AND INSTALL AN UPDATED TIRE AND LOADING INFORMATION LABEL AT NO CHARGE. FOR THE FJ CRUISER VEHICLES, THE TPMS CANNOT BE RESET SO THE ELECTRONIC CONTROL UNIT (ECU) FOR THE TPMS WILL BE REPLACED. TOYOTA IS CURRENTLY DEVELOPING THE REMEDY ECU. IF AN OWNER IS NOT CERTAIN WHETHER HIS OR HER VEHICLE IS EQUIPPED WITH THESE ACCESSORIES, PLEASE CONTACT ANY TOYOTA DEALER FOR AN INSPECTION AT NO CHARGE. THE SAFETY RECALL BEGAN ON MARCH 31, 2011. OWNERS MAY CONTACT TOYOTA AT 1-800-331-4331.

SOUTHEAST TOYOTA IS RECALLING CERTAIN MODEL YEAR 2005-2011 PASSENGER VEHICLES FOR FAILING TO COMPLY WITH THE REQUIREMENTS OF FEDERAL MOTOR VEHICLE SAFETY STANDARD NO. 110, "TIRE SELECTION AND RIMS." THESE VEHICLES WERE SOLD WITHOUT THE REQUISITE LOAD CARRYING CAPACITY MODIFICATION LABELS.

Consequences:

A DRIVER MAY OVERLOAD A VEHICLE WHICH MAY INCREASE THE RISK OF A CRASH.

Remedy:

DEALERS WILL MAIL TO CONSUMERS THE CORRECTED LABEL OR THE CUSTOMER WILL HAVE THE OPTION FOR DEALERS TO INSTALL THE LABEL FREE OF CHARGE. THE SAFETY RECALL BEGAN ON MAY 27, 2010. OWNERS MAY CONTACT SOUTHEAST TOYOTA AT 1-800-301-6859.

Toyota is recalling certain model year 2010 Lexus RX350 and RX450h vehicles, manufactured from November 28, 2008, through September 1, 2010, and model year 2008 through 2011 Toyota Land Cruiser vehicles manufactured from September 1, 2007, through September 5, 2011. In July 2012, Toyota filed a defect report to recall certain model year 2010 Lexus RX350 and RX450h vehicles. In November 2012, Toyota informed the agency that it was including an additional 10,565 vehicles including certain model year 2008 through 2011 Toyota Land Cruiser vehicles. The total number of vehicles being recalled is now 164,601. The accelerator pedal can get stuck in the wide open position due to its being trapped by an unsecured or incompatible driver's floor mat.

Consequences:

A stuck open accelerator pedal may result in very high vehicle speeds and make it difficult to stop the vehicle, which could cause a crash, serious injury or death.

Remedy:

Toyota and Lexus will notify owners of affected vehicles and dealers will modify or replace the accelerator pedal and replace any driver's floor mat not specified for the vehicle. Owners of the Lexus vehicles were notified during August 2012. Toyota has not yet provided a notification schedule for the additional Land Cruiser vehicles. Owners may contact Toyota Customer Experience Center at 1-800-331-4331 or Lexus at 1-800-255-3987.